Bringing Supply and Demand Together


But they do impose a cost



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Bringing demand and supply together

But they do impose a cost.

  • But they do impose a cost.
  • It falls not only on low skilled workers and employers, but also on consumers of products that were made more costly by the minimum wage.

Most U.S. workers are not affected by the minimum wage because in the market for their skills. They earn wages that exceed the minimum wage.

  • Most U.S. workers are not affected by the minimum wage because in the market for their skills. They earn wages that exceed the minimum wage.
  • In this case, the minimum wage is not binding. This is shown in the next slide.

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